- President Tsai Ing-wen said on January 1, 2023, that the government is working to maintain Taiwan’s economic momentum, safeguard national security and bolster public welfare, while fulfilling the country’s responsibilities toward the region.
TAIPEI, (Taiwan Today) – Due to Russia’s invasion of Ukraine and the resulting global inflation, countries around the world have to contend with drastic economic and financial instability as well as considerable uncertainty brought about by sporadic food and energy crises, president Tsai Ing-wen advised. This followed a high-level national security meeting held recently to respond to continuing inflationary pressure and to try to mitigate the risk of an economic downturn.
President Tsai revealed strategic goals while delivering the new year’s day address on January 1 at the Presidential Office, (PO) in Taipei City, allude to an increase in government spending to reduce citizens’ financial burdens as the costs of food, clothing, housing and transportation all rise. The government is also promoting industrial upgrades and transformation to ensure Taiwan’s competitiveness and thus ensure quality of life for its citizens.
According to president Tsai, the government is offering incentives, subsidies and other measures to help Taiwan’s travel industry attract international travellers and foreign firms encourage their employees to come to the country to travel, study, book cruises and charter flights, creating opportunities for the export of services and making up for the decline in the export of goods.
Taiwan must expand agricultural infrastructure projects and complete them ahead of schedule to spur domestic demand and investment through public construction, and to help address the impact of extreme weather events. President Tsai mentioned plans to expand the Green Environmental Payment Program as well as agricultural insurance and occupational injury coverage for farmers to increase coverage and payouts.
Aside from these programs to respond to 2023’s economic outlook, the PO and Executive Yuan will jointly conduct a review of the six core strategic industries and will hold consultations with private sector enterprises as well as industry and trade associations. The government welcomes industry-led suggestions and strategies to further cement Taiwan’s key position in global supply chains.
In addition to economic and industrial challenges, the continued expansion of authoritarianism has aroused insecurity over the prosperity and stability of the Indo-Pacific region. The recently announced military force realignment plan will strengthen Taiwan’s defense capability through the review and readjustment of defense structure.
Protecting the homeland is not just the duty of the armed forces, but a joint responsibility that should be shouldered by every single citizen. Everyone is urged to support the armed forces and national defense to maintain freedom and democracy.
“Both sides of the Taiwan Strait face many of the same challenges,” Tsai said. “War has never been a way to solve problems, and only through dialogue, cooperation, and joint work toward the goals of regional stability and development can people enjoy security and happiness.”
The six core strategic industries are part of the government’s five-plus-two innovative industries plan. Launched in 2016, the undertaking fosters the development of the biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things sectors, as well as the circular economy and a new paradigm for agricultural development.
